Bloomberg has reported that Japanese bank Nikkei, one of the world’s biggest investors in electric cars and autonomous vehicles, will invest $3 billion in Tesla.
Nikkeit is expected to have about $6 billion in total debt and a total equity stake of about $20 billion.
Bloomberg reports that the investment is part of an $8 billion loan to the automaker.
The company said in a statement: “Nikkei has a long-standing position in electric vehicles and the Tesla Model S. We are pleased to have a new investor in Tesla, who will help us continue to build the platform and expand the ecosystem.”
Tesla shares fell as much as 3.7% to $19.84 on Thursday.